The company made this announcement after the trading hours on Monday, 26 November 2007.
Meanwhile, BSE Sensex was down 143.87 points or 0.75% to 19,103.67 as US stocks tumbled on Monday, 26 November 2007, as investors worried rising US mortgage defaults and credit market losses will drag on the US economy, fueling fears that US consumers will slash spending during the vital holiday season.
On BSE 31,708 shares were traded in the counter. The scrip had an average daily volume of 2.53 lakh shares in the past one quarter.
The stock hit a high of Rs 1708.70 and a low of Rs 1650 so far during the day. The stock had a 52-week high of Rs 1782 on 19 November 2007 and a 52-week low of Rs 465 on 9 March 2007.
The large-cap scrip had outperformed the market over the past one month till 23 November 2007, gaining 35.71% compared to the Sensexs return of 0.44%. It had also outperformed the market in the past one quarter, rising 93.28% compared to Sensexs rise of 30.70%.
The companys current equity is Rs 221.69 crore. Face value per share is Rs 10.
The current price of Rs 1680 discounts Q2 September 2007 annualized EPS of Rs 18.91 by a PE multiple of 88.84.
Jaiprakash Associates has fixed 26 December 2007 as the record date for a 5-for-1 stock split.
As per recent reports, Jaiprakash Associates has forayed into the steel sector with the acquisition of Malvika Steel in Jagdishpur, Uttar Pradesh, for Rs 207 crore. The company acquired Malvika Steel, earlier promoted by the Usha Group, in an open auction made by the Debt Recovery Tribunal. The steel firm was taken over by some financial institutions after it failed to meet its interest obligations.
Jaiprakash Associates net profit rose 15.6% to Rs 104 crore on 11.1% growth in net sales to Rs 862 crore in Q2 September 2007 over Q2 September 2006.
Jaiprakash Associates, the flagship company of the Jaypee Group, is involved in construction of major engineering projects for the last four decades, including complex hydro power/river valley projects, and expressways. The company also has it presence in cement, hospitality and real estate business.
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